Investors willing to sacrifice to buy

by Julia Corderoy24 Jul 2014
The majority of investors would be prepared to make sacrifices when it comes to their spending habits in order to buy property, new research has revealed.

According to Mortgage Choice’s latest First Time Investor survey, when asked which lifestyle aspects they would sacrifice in order to purchase property, the top three answers were general spending, holidays and food.

The survey revealed 74.3% of respondents said the first thing they would cut back on would be general day-to-day expenses, followed by 56.3% saying they would dine out less and 49.3% who said they would skip out on a holiday.

The things respondents were least likely to do to cut expenses were to move to cheaper shared accommodation (3.4%), delay their wedding or cut back on the list (5.3%) or cancel their private health insurance (5.6%).